Total Renal Care names new CEO; shares up 17 percent

CBS.MarketWatch.com

TORRANCE, Calif. (CBS.MW) -- Shares of Total Renal Care shot up almost 20 percent Monday after the dialysis services company named a new chief executive officer.

Shares advanced 1 1/8 to 7 1/8 with 1 million shares trading hands.

The company
TRL, -0.33%
the third-largest U.S. chain of dialysis centers, provides dialysis services for patients suffering from chronic kidney failure.

The company announced that it has hired Kent J. Thiry as its new chief executive, effective Monday, replacing Victor M.G. Chaltiel who stepped down earlier this year for personal reasons.

Mr. Thiry worked at Vivra Inc., another dialysis services company, from 1992 to 1997 as president and chief executive officer.

"Mr. Thiry has an outstanding reputation within our industry, comes to our company with a great track record in managing a major dialysis services company, and understands the importance of building shareholder value," said Maris Andersons, chairman of the board of directors' finance committee, in a statement.

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